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LITE

Lumentum Holdings Inc.Close $693.24EOD only

Max Pain

$715.00

Next expiry Jul 31, 2026

Expected Move

±$36.20

5.2% from close

Price Gap

+21.76

Distance to max pain

IV Rank

Low premium

P/C OI

1.39

Slightly put-heavy

Consensus

4.0/10

Bullish tilt

Published snapshot: Jul 30, 2026 close

End-of-day snapshot

This page reflects LITE options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Jul 30, 2026 close

LITE Theta Report

Analysis based on market close June 15, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

You are viewing an older report from June 15, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Confidence:

4 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 19.7% from MP; +1 VIX 16

IV Environment

IV Regime

High

IV vs VIX

IV (105%) far above VIX (16.2), event premium.

Favorable?

Yes

Term structure: Front-end elevated, dips mid-term, rises long-term.

📊Put IVs exceed calls across most terms, bearish hedging.

📈Front-end IV elevated before expiration, event risk.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+1.8M)

Gamma flip: ~$800.00 — Approx — based on put OI concentration of 6,305 (16.4% below spot)

OI concentrations: Put floor $600-$900, max pain $800 6/18, $880 6/26, $950 7/2. High put OI 16.4% below spot.

Verdict: Pinning risk elevated; spot may drift toward $800-$880 OI.

Premium Opportunities

Put credit spread

Sell 2026-07-17 $860.00/$740.00 put spread

Cash-secured put credit spread exploiting elevated IV ahead of earnings.

Credit: $30.82-$37.68

Max loss: $82.32

BE: $822.32

Mgmt: Monitor position; exit if LITE breaks below $900 or above $1000.

Risk Alerts

!High IV collapse post-event

!Gamma flip near $800

!Mixed flow reversal

How to Use These Reports

This theta reflects the market close on June 15, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.